Basically everything I've read/heard/witnessed points to the hotter the pepper the slower the grow. I like keeping mine in containers and I'm rather a newbie so I'll let the more knowledgable let you know when it's a good time to transplant out to the garden.

A little more info would be good. Such as, where are you located? From the looks of your picture, if you are in the USA, you are down south. Assuming that is the case, you might be able to plant that guy out now, but it is pretty small to be putting outside if you think you will be getting temps at night down in the 40's or lower. That little fella right now needs lots of light and warmth to thrive. So, unless you are way down south, I would keep inside (house or greenhouse) until conditions are more favorable.

But the plant looks fine. Many peppers like to throw out growth from the main stem. Many times it is a sign of a growth spurt which you already indicated. Once the climate outside is favorable, that guy will really take off and you will have peppers in no time.
Bruce

I'm actually located in MedellÃÂ­n, Colombia (South America). The temperature is an average of 70-80 all year-round during the day, but at night it can drop into the low 50s.

I planted another pepper a month back and its been doing great! Its not as hot as this one, but once I transplanted it garden style, it really took off.... it gets about 5-6 hours/day and this one I would put in a better spot that gets 6-7 hours/day.

With that information, do you think I could re-plant this one garden-style?

Judo - The bigger one we hardened off for a week, but the smaller one for a much shorter time... just left it outside a few days before transplanting it. We did plant them at night though.

Here are the transplanted pods... the small one is either a datil, chocolate hab or pumpkin hab (I ended up using another pod I had, not the one in the original pic, but same size) and the other is a peruvian yellow pepper.

The Peruvian Yellow pepper I think will take off, but I'm a bit nervous about the smaller one.... too early to use a little fertilizer?